Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Cape Charles Commercial Land Available Title is generated by Realmo AI

    22485 LANKFORD HWY, Cape Charles, VA 23310

    View on Map
    Claim this Listing
    Picture of Commercial land at 22485 LANKFORD HWY, Cape Charles, VA
    For Sale
    $395,000

    Commercial - CAPE CHARLES, VA

    Added:
    Jul 11, 2025
    Days on Market:
    304
    Last Refresh:
    May 10 at 2:06 am

    Property Features for 22485 LANKFORD HWY

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Interior features
    Other-see Remarks
    Standard status
    Active

    Utilities

    Heating system
    None (Heating)

    Building Details

    Year built
    2026
    Building materials
    Other
    Architectural style
    Other

    We can help!

    Listing Contact
    William (Bill) Parr

    Listing agent William (Bill) Parr

    Listing office PARR PROPERTIES 22493 Lankford Highway, CAPE CHARLES, VA

    Listing date Jul 11, 2025

    MLS# 64765 Listing URL

    Copyright © 2026 Eastern Shore Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Direct access to a new traffic light via the shopping center driveway.
    • Highway entrance/exit adjoining Tract 2 provides easy access directly from the highway.
    • Located in the Cape Charles Food Lion shopping center, near Dollar General.
    • Tract 1 (Lot E) contains 4.00 acres.
    • Parcel E has 1.31 acres and fronts on the VDOT highway ROW.
    • Includes two remote drain field lots (2.53 acres total) with access easements.

    Overview

    Two commercial lots are available in the Cape Charles Food Lion shopping center, situated across the driveway from Dollar General. Direct access to the new traffic light through the shopping center, along with a highway entrance/exit adjoining Tract 2, facilitates convenient traffic flow directly from the highway into the property. "Tract 1, Lot E" is the rear lot, bordering the railroad tracks to the North and the shopping center's stormwater pond to the East. It adjoins Tract 2 and the main driveway to the South, encompassing 4.00 acres. Parcel E, comprising 1.31 acres, fronts the VDOT highway right-of-way to the North and the driveway to the South. Additionally, the parcel borders the railroad tracks to the North. The offering includes two remote drain field lots, identified as lots #101 and #101D, totaling 2.53 acres. These lots are located on the far side of the stormwater pond and benefit from access easements.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Food Lion Grocery & Convenience Store Coinstar Kiosk | Bitcoin ... Atm Redbox Cinema Western Union Bank

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Hotel & Motel Department Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cape Charles
    County
    Northampton
    State
    Virginia
    Longitude
    -75.9727899
    Latitude
    37.2697556

    Nearby Similar for Sale

    • $349,000
      1,132 SF

      Historic Bank Building in Cape Charles

      Historic building suitable for residential, business, or commercial use.
      4322 CAPEVILLE DR, CAPE CHARLES, VA 23313
      View Details
    • $1,400,000
      10,745 SF

      Peacock Motel on 8.32 Acres

      Traditional motor court motel near Cape Charles on US Route 13.
      26369 LANKFORD HWY, CAPE CHARLES, VA 23310
      View Details
    • $157,500

      Prime Land in Cape Charles

      Two combined lots with excellent visibility and commercial potential.
      3351 STONE RD, CAPE CHARLES, VA 23310
      View Details
    • $350,000

      Waterfront Lot in Bay Creek

      Waterfront building lot with marina views in Bay Creek.
      Lot 14A WATERS EDGE DRIVE, CAPE CHARLES, VA 23310
      View Details
    • $995,000

      Beachfront Lot in Cape Charles

      2.5+ acre beachfront lot with pristine views.
      Lot 8 SAND HILL DR, CAPE CHARLES, VA 23310
      View Details
    • $699,000

      Beachfront Lot in Cape Charles

      2.5-acre beachfront lot with access to pristine beach.
      Lot 21 SAND HILL DR, CAPE CHARLES, VA 23310
      View Details
    • $765,000

      Beachfront Land in Cape Charles

      Prime beachfront homesite with access to amenities and historic Cape Charles.
      Lot # 2 ELLIOTTS CREEK LN, CAPE CHARLES, VA 23310
      View Details
    • $495,000

      Waterfront Land in Cape Charles

      Waterfront homesite with views of Plantation Creek near amenities.
      97 CREEKSIDE LN, CAPE CHARLES, VA 23310
      View Details
    • $290,000
      3,150 SF

      Restaurant Ready Retail Space

      Retail space suitable for restaurant conversion near Cape Charles.
      21229 S. BAYSIDE ROAD, CAPE CHARLES, VA 23310
      View Details
    • $1,395,000
      4,088 SF

      Historic Cape Charles Commercial Property

      Unique 1920s building with revitalization potential in Cape Charles, VA.
      1 FIG ST, CAPE CHARLES, VA 23310
      View Details
    • $440,000

      Expansive Homesite in Bay Creek

      1.29-acre homesite in Bay Creek with access to amenities.
      71 CREEKSIDE LN, CAPE CHARLES, VA 23310
      View Details
    • $95,000

      Cleared Lot with Boat Slip

      Build-ready lot with boat slip and community amenities.
      Lot 100 GWYNN COURT, CAPE CHARLES, VA 23310
      View Details

    FAQs

    What type of property is this?
    Commercial land - Two commercial lots with highway access in Cape Charles, Virginia.
    Where is this commercial land located?
    The property is located at 22485 LANKFORD HWY Cape Charles, VA.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: Direct access to a new traffic light via the shopping center driveway.; Highway entrance/exit adjoining Tract 2 provides easy access directly from the highway.; Located in the Cape Charles Food Lion shopping center, near Dollar General.
    (757) 373-6198
    We can help!
    Listing Contact
    William (Bill) Parr
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    22485 LANKFORD HWY, CAPE CHARLES, VA 23310
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!